Dorian LPG Ltd (LPG)

Debt-to-capital ratio

Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Long-term debt US$ in thousands 551,549 564,686 578,167 591,227 604,257 577,202 589,961 605,107 590,687 506,738 500,392 527,318 539,652 552,103 564,343 594,246 581,919 586,305 601,577 616,875
Total stockholders’ equity US$ in thousands 1,023,530 984,058 923,309 885,609 873,846 837,327 825,369 844,349 920,151 924,191 906,949 938,548 946,825 1,015,770 989,591 989,953 977,052 982,025 954,372 919,080
Debt-to-capital ratio 0.35 0.36 0.39 0.40 0.41 0.41 0.42 0.42 0.39 0.35 0.36 0.36 0.36 0.35 0.36 0.38 0.37 0.37 0.39 0.40

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $551,549K ÷ ($551,549K + $1,023,530K)
= 0.35

The debt-to-capital ratio of Dorian LPG Ltd has been relatively stable over the past few quarters, ranging between 0.35 and 0.42. This ratio indicates the proportion of the company's capital that is financed by debt. A lower debt-to-capital ratio suggests a lower reliance on debt for financing, while a higher ratio indicates a higher level of debt in the capital structure.

Dorian LPG Ltd's debt-to-capital ratio peaked at 0.42 in the third quarter of 2022 and has since fluctuated within a narrow range. The ratio decreased to 0.35 in the fourth quarter of 2021 before increasing slightly to 0.36 in the first quarter of 2022. It then hovered around 0.36 to 0.39 until the third quarter of 2023, where it increased to 0.41 and further to 0.42 in the following quarter. However, in the most recent quarter, the ratio decreased to 0.35, which is one of the lowest levels observed in the historical data provided.

Overall, Dorian LPG Ltd's debt-to-capital ratio shows a stable trend with some fluctuations over the quarters. It is important for the company to carefully manage its debt levels to maintain a healthy capital structure and ensure financial stability.